Daily Report September 25th Monday

The secret to success in the markets lies not in discovering some incredible indicator or elaborate theory; rather, it lies within each individual.

Nifty (3544) SUPPORT-3520-3498-3475 RESISTANCE-3577-3605-3638 Nifty range 3514-3577 with last 4days of F&O settlement and sun outage markets would be very volatile and with good rollover seen we would see markets being weak in the open and recover towards close and vice versa till settlement. RELIANCE is one stock to watch out for settlement as close above rs.1145 is very good one more close above with would reach all time high. TOP 5GAINERS= GAIL-ORIENTBANK-JETAIRWAYS-GRASIM-RELIANCE TOP5LOSER=ZEETELE-SATYAMCOMP-DABUR-MTNL-BPCL. P/E=20.33 p/b=4.62 adv=20 dec=30 NSE adv: 261 dec: 652 -vol-rs.6435crs

Sensex (12236) SUPPORT-12163-12098-11997 RESISTANCE-12322-12415-12508 Sensex the gap is acting strong support and if on Monday if the gap (12128-12167) is not closed fully chances of markets having a 5days of mega rally is possible where new high also can be possible, and the rally is able to sustain above 12000 comfortably 3out 5days it was above 12000 the more it stays there higher targets would be possible soon.
8dma=12067 13dma=11958 21dma=11874 34dma=11657 55dma=11243 OPEN=12244 HIGH=12303 LOW=12170 BSE adv: 898 dec: 1607 -vol-rs.3108crs
Fiis buyer rs.288crs & Mutual funds buyer rs.194on Thursday, Fiis buyer rs.4321crs in Sep month and buyer rs.21621Crs in 2006, mutual fund buyer rs.468crs in Sep month. F&O DATA Fiis sell rs.1135crs in nifty future and sell rs.148crs in stock future on 22nd September and provisional Fiis sell in cash rs.119crs source NSE website

Day That Ended: Market maintained negative bias through out being a weekend closing and weak global markets cues but Reliance industries gave the needed recovery to markets towards the end, and there is a big shifting of F&O happening after 6months which shows a positive bias in markets. International markets U.S markets ended weak Indian ADRs also ended weak EURO markets in deep red CRUDE $ 60.55 & Petroleum Minister Murli Deora said petro products prices will be cut can be very good news.

Outlook for Monday: Markets to open weak based on weak global cues and slowdown in U.S economy, but that wouldn’t affect our markets. BSEMETAL index has gaped up and 2days it was able to sustain that NALCO-TATASTEEL-SAIL-HINDALCO-STER are stock which can surprise markets and many news flow would come soon. News of petro prices cut would benefit 2WHEELER-LOGISTICS sector AEGISLOGISTICS-GDL-TVSMOTORS would be value picks.

STOCK TECK view: http://prabhakar-views.blogspot.com MARUTI rs.920-935 wait for dips to buy as F&O expiry normally gives chances target rs.1050-1075 and even higher, on weekly charts rs.902 is the double bottom(below which one should place a stop loss) and now stock reacted near all time high with cup & handle formation. Stock can be good for positional traders.
http://in.groups.yahoo.com/group/prabhakar-views/join

Counter view: Advance tax figure(37% higher corparates have paid) has come and once the F&O settlement is over markets would look at results season where CEMENT companies has outperformed and a report which says middle east demand is high 30% premuim is paid and local demand also very high and in weak season also pricing power is seen, METALS also have paid good taxes above wat markets expected and this has surprised many and now I see many reports which had given sell now coming out with buy saying cost reduction local demand to sustain. The above views would explain how competive the research of companies have become, and as I normally say today there are more analsyts than stock listed so each and every move of the stock is timed execpt for the euopria and panic times in markets and markets are too fast to adjust themselves back so never time markets it is always correct and it has proved so always. I would like to add many are worried about market correction that would come and that would go and no one can ever stop it you are here to make money and u should know to keep things simple. Curtail u r losses to minimum and profit automatically grows, know u r stock, divide u r risk & remember markets always changes sectors so have laggards which has a visible growth in longer term. Remember buy on rumour sell on news is so true as now itself many would have projected the results and the stock would start to price itself and when the news comes the charm is not there & this hold for bad & good results.


Disclaimer: These recommendations are based on the theory of technical analysis and personal observations. This does not claim for profit. I am not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. I am trying to consider the fundamental validity of stocks as far as possible, but demand and supply affects it with vision variations.

http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyid=2006-09-23T020900Z_01_N22233854_RTRUKOC_0_US-COLUMN-STOCKS-OUTLOOK.xml&src=rss Slowdown fears cloud stocks' horizon .
http://www.rediff.com/money/2006/sep/23fab.htm
http://www.businessstandard.com/common/storypage_c.php?leftnm=11&bKeyFlag=IN&autono=5998 Petro prices may decline: Deora.